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Mike Haridopolos' financial backer goes bust

Appliance Direct, the central Florida appliance chain whose subsidiary pays Florida Senate President Mike Haridopolos $60,000 a year for consulting services, has filed for Ch. 11 bankruptcy protection, Florida Today reports.

"Due largely to an unsuccessful expansion effort and the decrease in sales, debtor has had difficulty in servicing its trade debt or making demand payments to certain  creditors," according to the filings.

A subsidiary of Appliance Direct, Market Share Systems, since 2007 has paid Haridopolos $5,000 per month to advise Appliance Direct's founder, Sam Pak, on economic, business and political matters. The bankruptcy filings make no mention of Market Share or Haridopolos, a candidate for U.S. Senate..

The lobbyist represented Appliance Direct, Frank Tsamoutales, is one of Haridopolos' closest advisers and also a close friend and business partner of Sam Pak. More on that here

--Adam Smith


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